A Bold New Caribbean

institutions and EU Member States working hand in hand, has committed over EUR 45 billion to the partnership with Latin America and the Caribbean until 2027. The GGIA showcases a selection of over 130 projects and priorities across countries of Latin America and the Caribbean to leverage quality investments, identified in the process of thorough consultations with partner countries and the private sector. EU-led investments are not only about finance and expertise, but also about environmental and social high-quality standards. The European Union is a reliable partner to help design sustainable, quality projects and ensure they are implemented in a transparent way, providing financial instruments to limit unsustainable levels of debt and deliver lasting social and economic benefits to local communities. This is at the heart of the EU’s Global Gateway Strategy. The opportunities for working more effectively together as regions and at- tracting EU investments to the Caribbean are evident. The Global Gateway spans key sectors such as renew- able energy decarbonisation, transport infrastructure projects, 5G and connectivity, digitalisation for public services, and sustainable finance and green bonds. Some examples of the EU’s efforts to boost investments in the Caribbean through the Global Gateway include the following initiatives: 1 The EU-LAC Digital Alliance, launched in 2022, is a geostrategic partnership for a human-centric digital transformation, sending a strong signal of confidence to investors and digital stakeholders, and includes e.g. the extension of the BELLA cable, the creation of two regional Copernicus cen- tres for disaster risk reduction, climate change, land and marine monitoring [Chile and Panama], and the LAC Cyber Security Centre in Santo Domingo. An EU-LAC Digital Accelerator will also fos- ter at least 100 new joint ventures between LAC and EU corporates, SMEs and innovative start-ups. The Regional Amazon Basin and the Amazonia+ project, which includes Suriname and Guyana, will contribute to a reduction of deforestation, the prevention of the impact of wildfire and the increase of influence by the indigenous population in decision-making. This is part and parcel of the EU’s support to countries’ policies towards a climate-neutral economy and a resilient society that lives in harmony with nature.

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The new LAC-Health Resilience initiative, which will support the development of local medicines and vaccine manufacturing and health systems resilience, including regulatory frameworks.

The EU Global Green Bonds Initiative, which will foster the development of the green bond mar- ket in the Caribbean, thus mobilising capital for financing a sustainable transition. Our work with partners will include helping create the right conditions for sustainable investment, through stable and predictable legal frameworks, removing discriminatory barriers and focusing on what works for citizens.

We will also help the region address two major Caribbean challenges: the improvement of the maritime connectivity to foster regional integration, economic growth and food security, and ad- dressing the Sargassum algae to convert it from a threat to an economic opportunity.